Press release
Hot Melt Adhesives Market to Grow at USD 10 billion to 2024: Analysis of Key Players, Trends, Drivers
Application potential hygiene, packaging, footwear, electronics, and automobile industries will favour HMA market size and Hot Melt Adhesives Market size is set to exceed USD 10 billion by 2024; according to a new research report.EVA hot melt adhesives market size will witness gains at above 5%. It is majorly used in woodworking, paper, and automobile industries due to durability, versatility, and intact adhesion. Shift in consumer preference towards packed products consumption accompanied with FDA regulations regarding indirect or direct food contact should promote product demand.
Hot melt adhesive market consumption from packaging applications should witness significant gains to surpass USD 3 billion by 2024. They are mainly used in food & beverages packaging & labelling as they have good adhesion and high intact properties.
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Increasing emphasis on bio-based hot melt adhesives market development mainly for packaging applications should drive industry growth. It does not contain any hazardous materials along with favourable government guidelines, thereby making it suitable for food & beverage packaging applications.
Key raw materials, styrenic block copolymers (SBC), polyamide, polyolefin, polyurethane, and ethylene vinyl acetate (EVA) are used for production process. EVA is most widely used raw material hot melt glue production owing to superior performance and low cost. These raw materials are used in various applications and may face supply deficit and impact hot melt adhesives market price trend.
Hot melt adhesives market size from furniture applications may witness gains at above 4%. Polyurethane, polyamide and EVA are preferably used for woodworking and furniture owing to bond strength for metal, glass and wood, thereby making it suitable for architectural elements and profile wrapping.
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Regional highlights of Hot Melt Adhesives Market over 2016-2024 are given below:
U.S. polyester hot melt adhesives market size should register close to 5% growth. It is prominently used in textiles & fabrics, footwear and automobile industries. Strong outlook towards textile industry and protective clothing along with increasing high efficiency and light weight automobile production should drive regional growth.
Germany hot melt adhesives market size from disposables application should witness gains at over 5%. Positive application outlook in female hygiene, baby diapers and adult incontinence should drive industry growth. The industry is gaining acceptance and importance owing to superior quality properties usually for producing baby diapers, thereby supporting regional growth.
Styrenic block copolymers HMAs are essential feedstock for pressure sensitive products such as tapes and labels owing to its good heat resistance, high elongation, low temperature flexibility and good adhesion.
China hot melt adhesives market size from automobile application should register over USD 50 million by 2024. It is used in seating, door sealant, auto seat upholstery, exterior trim bonding, package tray attachment, water shields, and headliner attachment.
Related Reports: -
Global and Chinese Hot Melt Adhesives Industry, 2017 Market Research Report
The 'Global and Chinese Hot Melt Adhesives Industry, 2012-2022 Market Research Report' is a professional and in-depth study on the current state of the global Hot Melt Adhesives industry with a focus on the Chinese market.
https://marketsizeforecasters.com/global-and-chinese-hot-melt-adhesives-industry-2017-market
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